(Reuters) - Chip startup Rivos said on Tuesday it raised $250 million in a funding round that will enable it to manufacture its first server chip geared for artificial intelligence.

Nvidia's combination of chips and CUDA software dominates the market for AI-related computing, and Nvidia gobbled up more than 80% market share of AI chips in 2023. But a host of startups and chip giants have started to launch competing products, such as Intel's Gaudi 3 and Meta's inference chip - both unveiled last week.